Homeowners Win Class Cert. In Bear Stearns Mortgage Row

Law360, New York (September 27, 2012, 10:01 PM EDT) -- A federal judge on Wednesday certified a class of California homeowners who claim a unit of the now-defunct Bear Stearns & Co. duped them into artfully worded adjustable-rate mortgages that stuck them with unwieldy monthly payments in the years leading up to the 2008 financial crisis.

Without hearing oral arguments, Judge S. James Otero determined three homeowners — Joseph A. Monaco, Anita M. Monaco and James Brandt — sufficiently demonstrated in their February motion for class certification that Bear Stearns Residential Mortgage Corp. and servicer EMC...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Joseph A. Monaco et al v. The Bear Stearns Companies, Inc. et al


Case Number

2:09-cv-05438

Court

California Central

Nature of Suit

Truth in Lending

Judge

S. James Otero

Date Filed

July 24, 2009

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.